Disney is shutting down its next-generation storytelling and consumer-experiences unit as part of a plan to slash 7,000 jobs.
The Magic Kingdom is shutting down its next-generation storytelling and consumer-experiences unit, the small division that was developing metaverse strategies, as part of a plan to slash 7,000 jobs, according to a Wall Street Journal report on Tuesday.
Disney had no official comment, but a person familiar with the company’s strategy who is not authorized to speak publicly on the matter confirmed the report. However, Disney’s austerity program, which will chop $5.5 billion in costs as part of a restructuring plan, had no room for nonessential businesses like the metaverse.
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